In
Part 1, click here , the warnings of "who
rules America" ruled out any conspiracy. It concluded the "elephants in the room" are clearly visible to anyone
choosing to look. The thread of money and power relevant to "who rules America" was
traced to the UK's Rhodes-Milner Round Table and here at home, to the American
Round Table. Other knots on the thread
of money and power in America include the Federal Reserve System, the
American Liberty League, the League of Nations, the Council on Foreign
Relations, the 1944 Bretton Woods Conference, the United Nations, the Central
Intelligence Agency, the Bilderberg Group, the "Chicago School", the Business
Round Table, the Trilateral Commission, NAFTA, the World Trade Organization,
the U.S. Supreme Court, and the Chamber of Commerce.

Part 2 begins with
the Federal Reserve System, continues through the League of Nations and
introduces the Council on Foreign Relations.

The Federal Reserve System (Fed): The importance of the Fed, as with The Bank
of England, to be held in private hands, was best expressed by Meyer Nathaniel Rothschild
in a speech to a gathering of world bankers in 1912, "Let me control a peoples
currency and I care not who makes their laws." Plans for a Central Bank in the U.S. were, by then, well developed. Having recognized how the power of government
could be used to advance their own interests, members of the American Round
Table backed Woodrow Wilson in the presidential elections and then controlled
him through their front man, Colonel House.

The Wall Street crowd was generally
referred to as the "money trust." The suspicion of the "money
trust" peaked in 1912 during an investigation by a House banking
subcommittee which revealed that twelve banks in New York, Boston, and Chicago,
had 746 interlocking directorships in 134 corporations. Rep. Robert L. Henry of
Texas said that for the past five years, the nation's financial resources had
been "concentrated in the city of New York (where they) now dominate more
than 75 percent of the moneyed interests of America ..." On December 13,
1911, George McC. Reynolds, the President of the Continental and Commercial
Bank of Chicago, said to a group of other bankers: "I believe the money
power now lies in the hands of a dozen men..." Yet, the plan for the Fed moved forward.

Signed into law in
1913, from 1850-1913, The Statistical
History of the U.S. reports real worker wages tripled in 63 years, prices
declined and GDP growth exceeded 4%/year. In the last 63 years real worker
wages increased through the mid-1970s but have remained flat for more than 3
decades. Annual GDP growth averaged
about 1% less than during the prior period. What a dollar was valued at in terms of 1913 spending power is
equivalent to a 2010 nickel. Productivity and wage increases slowed, prices and
inflation increased. But, as Charles
Lindbergh noted, boom-bust cycles would be more "scientifically created"
through the inevitable consequence of
excessive growth in bank
credit.

The plan that would
become the Federal Reserve Act was essentially that of Senator Nelson Aldrich,
leader of the Republican Party whose nickname was 'The General Manger of the
Country'. His daughter Abby would later marry John D. Rockefeller, Jr. Secretly
developed at the Rockefeller vacation home on Jekyll Island, other participants
included Treasury's A. Piatt Andrew, J.P. Morgan & Co. partner Henry P.
Davison, National City Bank president Frank A. Vanderlip and Kuhn, Loeb, and
Co. partner Paul M. Warburg and president Jacob H. Schiff.

Colonel House, President
Wilson's confidant without portfolio, assured the President's 1913 signature
authorizing formation of the Fed as an independent privately owned Central Bank.
It was to be owned by twelve regional Fed banks which, in turn, would be owned
by other private banks in each of the regions despite the fact of Thomas
Jefferson's earlier warning, "If the American people ever allow private banks to
control the issue of their currency, first by inflation, then by deflation, the
banks and corporations that will grow up around the banks will deprive the
people of all property until their children wake-up homeless on the continent
their fathers conquered".

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Colonel House, the Colonel was an
honorary title, was the son of British financier Thomas W. House, a Rothschild agent who made his fortune
by supplying the south with supplies from France and England during the Civil
War. He will continue in evidence throughout his life at the interface of money
and polotics.

Regarding the Fed,
Wilson would later say in his book The
New Freedom, "We have restricted credit, we have restricted opportunity, we have controlled
development, and we have come to be one of the worst ruled, one of the most
completely controlled and dominated, governments in the civilized world--no
longer a government by free opinion, no longer a government by conviction and
the vote of the majority, but a government by the opinion and the duress of
small groups of dominant men."

Regarding
these small groups of dominant men , much has been speculated regarding
ownership and control of the Fed but the Fed remains mute on ownership. It can, however, be confidently
asserted that with the Feds control of the supply and price of money privately in
the hands of bankers, the interest of bankers, as recently demonstrated by the
Wall Street bailout, would stand paramount.
Further, those private interests than own the Fed today are, as
indicated by Senator Richard Durbin in a radio interview in April, 2009, in
control of Congress as well; "And the banks -- hard to
believe in a time when we're facing a banking crisis that many of the banks
created -- are still the most powerful lobby on Capitol Hill. And they frankly own the place ."

Fed
officials have revealed the nation's central bank had, following the financial meltdown
which began in late 2007, handed $3.3 trillion in emergency loans, no strings
attached, to America's wealthiest institutions. The loans, charged Bernie
Sanders, essentially provided "free money" to the country's biggest banks. Additionally 21,000 short term loans totaling
$9 trillion were provided to private and Central banks in Europe and a host of international
corporations such as Caterpillar, General Electric, Harley Davidson, McDonald's,
Toyota, and Verizon.

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As regards the
public today, it is, perhaps, little different than when Henry Ford, Sr. said,
"It is well enough that the people of the nation do not understand our banking
and monetary system for, if they did, I believe there would be a revolution
before tomorrow morning." The fact that there was no revolution back then, or
from Main Street today from those losing their houses through mortgage
foreclosures, from those having lost their jobs and the "99ers" now without
unemployment insurance, from college graduates that cannot find jobs, and from
college students than cannot afford tuition is most probably a "Bernays
function" later discussed in the section dealing with the Council on Foreign
Relations.

Readers interested in learning more of the history and purpose of the
Fed are referred to Edward G. Griffin's book, The Creature from Jekyll
Island as well as Eustace Mullins' The Secrets of the Federal Reserve.

The League of Nations: Colonel House was President Wilson's
closest advisor during WWI. Having
delivered the Fed to the banking establishment, he was later involved in the
formation of the Council on Foreign Relations.

A retired MBA, I am a former corporate ideologue, former 3rd party advocate and current curmudgeon. While a continued supporter of a 3rd party, I have concluded their efficacy cannot be demonstrated until our form of Government is changed to (more...)